Korea struck a deal on Friday to sell TWELVE FA-50 fighter jets to the Philippines for 420 million U.S. dollars.
Under the terms of the government-to-government deal, Korea Aerospace Industries will deliver the jets, the most advanced variant of the T-50 Golden Eagle supersonic trainer, to Manila in the next 38 months.
The FA-50 is co-developed by KAI and U.S. defense firm Lockheed Martin.
The outbound shipment follows similar contracts with Iraq last year and Indonesia in 2011.
KAI also has its sights on selling the FA-50 to Peru, Botswana and the UAE.
The contract comes after the presidents of Korea and the Phillippines signed a memorandum of understanding on expanding defense cooperation in October.